The Economic and Financial Crimes Commission (EFCC) has re-arraigned two persons and their companies in Ikeja before the Lagos State High Court in connection with an alleged N986 million fuel supply fraud and further financial diversion.
The defendants, Ajayi Edward Olushola and his company, Hola Jay Nigeria Limited, were re-arraigned before Justice Fadipe on an amended four-count charge of acquiring money under false pretence and theft.
According to the EFCC, the amended allegation stemmed from the arrest of Hannah Nwaguzor Ify, who had previously been at large, necessitating the inclusion of both her and Mozann Global Merchant Limited in the case.
The prosecution charged the defendant with obtaining N986,000,000.00 from Prince Chukwulota Bennett Onuoha under false pretences about the provision of one million litres of Automotive Gas Oil (AGO).
The EFCC accused you of stealing N84,779,000.00 from Irene Abidemi Ifanse and using it for personal gain.
When the charges were read to the four defendants, they pleaded “not guilty”.
Following the plea, prosecuting attorney H. U. Kofarnaisa asked the court to hold the fourth defendant for trial.
Justice Fadipe granted the application, ordering Hannah Nwaguzor Ify to be held in a detention facility.
The judge then deferred the case until July 7, 2026, to begin the trial.